Bangalore, May 11, 2005 (DH News Service)

Bangalore-based defence public sector Bhart Earth Movers Limited (BEML), on Tuesday, said it has notched up an impressive sales turnover of Rs 1,862 crore for the fiscal year ended March 31, 2004-05 as against Rs 1,726 crore in the previous fiscal 2003-04.

Briefing reporters, BEML Chairman & Managing Director V R S Natarajan said the company’s profit before tax was an impressive of Rs 272 crore during the current fiscal year ended March 31, 2005, as against Rs 50 crore in the previous fiscal. The company’s profit after tax, according to provisional figures, he said was likely to be around Rs 172.57 crore for the year 2004-05 as against Rs 24.16 crore in the previous year.

The company’s unaudited profit after tax for fourth-quarter ended March 31, 2005 was Rs 123.62 crore as against Rs 18.71 crore in the previous fiscal quarter of 2004. The company’s net sales during the fourth quarter ended March 31, 2005 was Rs 775.41 crore as against Rs 569.89 crore for the same period in previous fiscal.

With an healthy order book position of Rs 2,015 crore as on March 31, 2005, Mr Natarajan said, BEML, which is into defence, rail and mines and construction equipment manufacturing business, had set itself an ambitious target of touching Rs 5,000 crore by fiscal year 2013-14.

The company has set itself an exportgs target of Rs 2,200 crore for the fiscal 2005-06, he added.

Meanwhile, Mr Natarajan said, BEML was likely to bag Rs 1,000 crore order from Sri Lanka for supply of 200 rail coaches and building the railway lines in the tsunami-hit areas.

“We have bid to build railway lines, supply 200 coaches, including signals, valued at around Rs 800-1000 crore,” he said, pointing out the Sri Lankan government have asked for a grant or line of credit from India.

“Through this project, BEML will go through a paradigm shift, from being a supplier of rolling stock, to building stock,” he added.